NAGA Reports First Profitable Half-Year

NAGA Group, the German fintech and brokerage company, announced its first profitable first half on Wednesday, reporting a net profit of €0.9 million for the six months ending June 30, compared to a loss of €2.6 million in the same period of the previous year. This marks a significant turnaround, with EBITDA rising 47% to €4.4 million and the EBITDA margin expanding to 15.9% from 9.3%.

Revenue, however, declined to €27.7 million from €32.3 million, a drop the company attributes to reduced marketing expenditure and a leaner cost base. Marketing and branding expenses fell 25% to €11.2 million, while personnel and technology costs dropped 20% to €8.8 million. The company also reported a rise in customer lifetime value to €2,757 per client, while acquisition costs stayed flat, improving the CLV-to-CAC ratio to 2.5x.

CEO Octavian Patrascu highlighted the strategic shift toward long-term customer value and efficient growth. "Our priority is long-term customer value, efficient growth and a platform that gains operating leverage as it scales," he said. NAGA reaffirmed its full-year 2026 guidance of €68–75 million in revenue and €10–15 million in EBITDA.

For retail forex traders, NAGA's return to profitability is a positive sign for the broker's stability and long-term viability. The focus on cost discipline and higher-quality customers suggests a more sustainable business model, which can enhance trust and security for clients. However, the declining revenue indicates that the firm is still navigating challenging market conditions, and the recent MiCA authorization for crypto-asset services adds a new avenue for growth.

In addition, NAGA underwent a 10-for-1 reverse stock split in December 2025 after its shares hit a low, which can be seen as an effort to bolster investor confidence. While these developments are noteworthy, they do not directly affect currency markets.

This is information, not investment advice.